Smurfit Westrock (NYSE:SW) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Smurfit Westrock (NYSE:SW) in a research report report published on Friday morning,Benzinga reports. Royal Bank of Canada currently has a $58.00 price target on the stock.

SW has been the topic of several other research reports. Jefferies Financial Group reiterated a “hold” rating and set a $52.00 price target on shares of Smurfit Westrock in a report on Monday, July 29th. Redburn Atlantic initiated coverage on Smurfit Westrock in a research report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price target on the stock. Citigroup began coverage on Smurfit Westrock in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company cut their target price on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Smurfit Westrock Stock Performance

Shares of SW traded up $1.60 during trading hours on Friday, hitting $51.66. 3,028,239 shares of the company were exchanged, compared to its average volume of 3,853,953. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The company has a market capitalization of $26.87 billion, a P/E ratio of 287.02 and a beta of 1.04. The company’s 50 day simple moving average is $47.63. Smurfit Westrock has a 52 week low of $38.55 and a 52 week high of $54.32.

Smurfit Westrock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.3025 per share. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a yield of 2.34%. Smurfit Westrock’s dividend payout ratio is currently 672.26%.

Institutional Trading of Smurfit Westrock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SW. Mather Group LLC. bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth about $25,000. CVA Family Office LLC bought a new stake in Smurfit Westrock during the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new stake in Smurfit Westrock during the 3rd quarter valued at $32,000. Waldron Private Wealth LLC acquired a new position in Smurfit Westrock in the third quarter worth $35,000. Finally, Cromwell Holdings LLC acquired a new position in Smurfit Westrock in the third quarter worth $42,000. Institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Company Profile

Smurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in Ireland and internationally. The company produces containerboard that it converts into corrugated containers or sells to third parties, as well as produces other types of paper, such as consumer packaging board, sack paper, graphic paper, solid board and graphic board, and other paper-based packaging products, such as consumer packaging, solid board packaging, paper sacks, and other packaging products, including bag-in-box.